eXelate Raises $12 Million in Series C Funding To accelerate product and global expansion following two consecutive years of +300% revenue growth, eXelate announces a C round led by NewSpring Capital with Carmel Ventures, Menlo Ventures & Trident Capital
NEW YORK, Sept. 24, 2012 /PRNewswire/ -- eXelate, the leading data and analytics engine making big data work for digital advertisers, today announced the closing of a $12 million third round of funding led by NewSpring Capital with existing investors Carmel Ventures, Menlo Ventures and Trident Capital also participating.
eXelate's global data cloud includes demographic and purchase intent information on over 400M online unique visitors worldwide, garnered from best of breed offline partners as well as directly measured online behavior. The company leverages this cloud plus its unique modeling algorithms to build proprietary services for agencies and advertisers seeking to gain insight on prospects, deliver relevant marketing messages and measure digital advertising effectiveness.
Glenn T. Rieger, a General Partner of Philadelphia-based NewSpring Capital will join eXelate's Board of Directors.
"eXelate has established itself as a leader in the digital advertising space with a proven technology platform, high-quality data, and exclusive relationships. With recent initiatives in customized analytics, cross-channel targeting and global markets, the company is well-positioned for continued growth," said Glenn T. Rieger. "We look forward to working with such a strong management team and current group of investors to capitalize on these opportunities going forward."
With offices in New York, Chicago, San Francisco, London, Paris and Tel Aviv, the company's already robust worldwide operations will grow from both additional geographical expansion and from mobile and analytics product line introductions. Additionally, the company will look to explore complementary acquisitions.
"eXelate's singular focus on delivering the highest quality data solutions to leading advertisers and agencies has enabled us to grow our business exponentially and cement our position as the de facto leader in online data," said Mark S. Zagorski, CEO, eXelate. "Our ability to harness the power of big data has excited our customers and inspired both new and legacy investors, giving us the fuel to expand our global footprint, enhance our product suite and accelerate our presence in multi-platform digital marketing through organic growth and M&A. We are excited to have the talents of NewSpring join our other blue chip investors, Carmel Ventures, Menlo Ventures and Trident Capital, as our partners in success."
eXelate was founded in 2007 and to date has raised $32 million in venture capital funding from initial investors Carmel Ventures as well as Menlo Ventures and Trident Capital and new investor NewSpring Capital. To date, eXelate is the fastest growing company in online data.
eXelate provides data and insight on online purchase intent, household demographics and behavioral propensities that enable digital advertisers to make optimal marketing decisions. Through the collection of directly measured online data and distribution partnerships with information leaders such as Nielsen, Nielsen Catalina, MasterCard Advisors, Bizo, and more, eXelate makes online, offline, and custom modeled data sets actionable across 400M online consumers worldwide. eXelate's proprietary maX data™ - customized audiences built for advertisers based on first and third party data - delivers 3-5x campaign performance as compared to standard data sets. As members of the NAI, IAB, Council for Accountable Advertising, OPA and Evidon's Open Data Partnership, eXelate is a leader in privacy compliant advertising practices. For more information, please visit http://www.exelate.com.
NewSpring Capital is a leading private equity firm with approximately $1 billion of committed capital specializing in growth and expansion capital across three distinct investment strategies. The family of funds consists of: (i) NewSpring Growth, which provides equity capital to businesses within the information technology, business services and enabling technologies sectors; (ii) NewSpring Healthcare which provides equity capital to healthcare companies within the healthcare services, specialty pharmaceutical and medical device sectors; and (iii) NewSpring Mezzanine, which provides mezzanine capital for expansion and buyout stage opportunities across a variety of sectors including business services, healthcare, information technology, and specialty manufacturing. NewSpring Capital combines deep operating knowledge with financial and investing expertise to provide growing companies the financial resources, advice, network of contacts and strategic partnerships necessary to be successful.
About Carmel Ventures:
With over $600 million currently under management, several successful exits, and a growing portfolio of promising start-ups, Carmel is among Israel's top-tier venture capital funds. Carmel's investments are focused primarily on early stage companies in the fields of Software, Internet, Digital Media, Communications, Semiconductors, and Consumer Electronics. Founded in 2000 by pioneers and leaders of the Israeli high tech industry, Carmel provides significant capital and active, hands-on support through the growth cycle of its portfolio companies and is recognized as a true company-building fund in Israel. Carmel, headquartered in Herzliya, Israel enjoys a worldwide network of industry, strategic and investment resources. Carmel is an affiliate of the Viola Group, the largest technology focused Private Equity group in Israel with $2B under management. For more information, please visit www.carmelventures.com.
About Menlo Ventures:
Menlo Ventures provides capital for seed through growth technology companies in the consumer and enterprise sectors. For decades, the firm's market-driven research analysis has led to the identification of and successful exits in innovative technology markets. Notable research areas of investment include Mobile (Siri, MobiTV, TeleNav), Enterprise storage (3Par), Communications (Acme Packet, Cavium Networks), and Consumer (Carbonite, Roku). Founded in 1976, Menlo's portfolio includes 70 public companies and more than 100 mergers and acquisitions. Throughout our history, Menlo's deep network of portfolio entrepreneurs, angels and advisors are a key resource made available to all of our family of investments. Menlo Ventures has $4B under management and is currently investing Menlo Ventures XI, a $400M fund with $20M allocated to our Menlo Talent Fund for fast seed funding. For more information, visit www.menlovc.com.
About Trident Capital:
Trident Capital is a leading venture capital and venture growth firm committed to empowering entrepreneurs to build innovative and industry leading businesses. Trident invests across multiple stages, from early startup to growth equity, in the Software, Internet and Business Services sectors. Trident is particularly recognized for its expertise and investments in IT Security, Health Care IT, Cloud Computing, Internet Monetization and Outsourcing. Trident has helped build large numbers of successful companies within its areas of focus by applying substantial investment experience, sector expertise and operating skills as well as broad networks of entrepreneurs and industry executives. Trident has raised nearly $2 billion of capital across seven funds since inception in 1993, including the recent $362 million Trident Capital Fund VII, and has invested in more than 170 companies to date. Trident is headquartered in Palo Alto, California. www.tridentcap.com.